Category: Cryptocurrency News

submitted by /u/TheRealVenger [link] [comments]

So I really want to know if there is some sort of indicator or general information on how much Eth 2.0 will reduce gas fees ? I know that 2.0 is not here and some of it’s parts are still theory. But do we actually have any numbers, anything that can be compare, a factor…
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I’ve sent ETH before. Just sent a test amount with no problem. Sent ETH from hardware wallet and it says pending transaction, sending ETH, Bump fee. Unconfirmed. Under bump fee it says “Not enough funds” quoted at $3.55. Plenty of funds. Gas limit 21000; Gas price 53 GWEI. Choice to change to Custom. Money has…
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I spend the time to try and do my best to education and help people as well as point out/combat fud and malicious commenters. I enjoy this, but what I don't enjoy is having to respond to the same user replying to every comment in multiple threads that's fudding because there's inadequate moderation. I'm pretty…
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Ethereum has been on a rally for the past week, moving from a two-month low at $1,700 to its current level at $3,223. Several factors have pushed the crypto market into a new rally, but most seem to gravitate around ETH and its ecosystem. After the implementation of EIP-1559, Ethereum’s native token became a deflationary asset due to the change in its fee mechanism. To validate transactions on the network a portion of ETH is “burn”, meaning send to an address that no one can access. As a consequence, ETH has been gaining traction as a store of value asset, for some experts, even more, efficient than Bitcoin. Researcher Lucas Outumuro has recorded a dropped in ETH’s daily issuance, lower than Bitcoin’s for the first time since its inception. As the chart below shows, ETH net inflation stands at 3574 ETH (1.11% annualized), and BTC net inflation stands at 900 BTC (1.75% annualized), Outumuro claimed. The decline in ETH’s daily issuance is attributed to the increase in on-chain activity. The research tracked this down to the surge in the non-fungible token (NFT) related activity. By 2021, NFTs have become a new mania in the crypto industry with a seemingly high level of adoption from the mainstream. A couple of days ago, payment giant VISA announced an NFT purchase from the popular collection CryptoPunks. At the same time, EtherRocks, and NFT gaming are contributing to the activity surge in this sector. As a consequence, Outumuro said: (…) NFT activity has significantly increased Ethereum fees and the amount of ETH being burnt along with them. This has led to several hours where more ETH was burnt than issued, effectively making it deflationary during brief periods of time. Ethereum, From Digital Oil To “Ultra-Sound Money” Ethereum has developed a multitude of use cases in different sectors, NFTs, DeFi, blockchain-based gaming, and more. In addition, its recently acquired deflationary nature could lead it to “develop a monetary premium like BTC”, the research claimed. As NewBTC reported, Ethereum surpassed Bitcoin in other metrics, including daily value settle. The former network has settled up to $24 billion daily, compared to Bitcoin’s $8,5 billion. This change and increase activity occurred despite Ethereum’s high transactions fees, 10 times higher than the number one cryptocurrency by market cap. Outumuro added: CHARTThis is also the case for the number of transactions in each blockchain, with ETH being valued more closely to its transaction activity. 5x the number of daily transactions, yet still lagging in valuation. Additional data also suggest that ETH is more adopted with over 20 million addresses holding it. The research highlighted those addresses could be own an undetermined number of users but can be used as a “proxy to observe growth in a crypto-asset community. The aforementioned factors strengthen Ethereum’s fundamentals and progressively change how investors value the underlying asset, ETH. In the coming months, as the network transitions towards ETH 2.0, more factors will contribute to the thesis that ETH has become the ultimate store of value. Outumuro said: As NFTs and other applications continue to grow on Ethereum, this creates deflationary pressure and reinforces Ether’s monetary premium. Ultimately, this aligns users and holders towards $ETH becoming the store of value of the decentralized internet.

submitted by /u/Lord-Nagafen [link] [comments]

Hey /r/Ethereum! I've been working on this idea off and on for a few weeks now and I figured it was time to show it to folks before continuing to build it out any further (hence the terrible UI). The idea is this: A smart contract that allows players to win the tokens in the…
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submitted by /u/dxtrlab [link] [comments]

In 2021, meme-based crypto assets skyrocketed in value following the lead of the original meme crypto-asset dogecoin’s massive gains. This week a great number of digital currencies have rebounded in price but a slew of popular meme tokens are not doing so hot this week. However, one specific meme-crypto called “cake monster” has jumped 112% […]

submitted by /u/mindofcam [link] [comments]